Horngren's Financial & Managerial Accounting, The Financial Chapters (6th Edition)
6th Edition
ISBN: 9780134486840
Author: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura
Publisher: PEARSON
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Chapter B, Problem B.18E
To determine
Subsidiary ledger: It is the secondary ledger account that encloses supporting details of the particular ledger account.
For example, a company maintains separate
To describe: The posted transactions.
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The controlling account in the general ledger that summarizes the debits and credits to the individual
accounts in the customer's ledger is entitled
A. Accounts Receivable
B. Accounts Payable
C. Sales
D. Purchases
Post the Journal Entries to the General Ledger and Subsidiary Ledgers. Amounts to the Accounts Receivable and Accounts Payable should be posted as a total amount to the Accounts Receivable and Accounts Payable accounts in the General Ledger.
In which journal is the receipt of a promissory note from a customer on account recorded ?
a. revenue journal
b. cash receipts journal
c. general journal
d. purchases journal
Chapter B Solutions
Horngren's Financial & Managerial Accounting, The Financial Chapters (6th Edition)
Ch. B - Prob. 1QCCh. B - Prob. 2QCCh. B - Prob. 3QCCh. B - Prob. 4QCCh. B - Prob. 5QCCh. B - Centex Sound Systems purchased merchandise...Ch. B - Every transaction recorded in the cash payments...Ch. B - Prob. 8QCCh. B - Prob. 9QCCh. B - What is an accounting information system (AIS)?
Ch. B - Prob. 2RQCh. B - Explain the three basic components of an...Ch. B - Prob. 4RQCh. B - What is the purpose of a subsidiary ledger?Ch. B - Prob. 6RQCh. B - List the four special journals often used in a...Ch. B - Explain the posting process of the sales journal.Ch. B - Provide some examples of transactions that would...Ch. B - Explain the posting process of the cash payments...Ch. B - When is the general journal used in a manual...Ch. B - Prob. 14RQCh. B - Prob. 15RQCh. B - Prob. 16RQCh. B - How would a business record a sale of services on...Ch. B - Prob. 18RQCh. B - Evaluating features of an effective accounting...Ch. B - Prob. B.2SECh. B - Identifying special journals Use the following...Ch. B - Prob. B.4SECh. B - Prob. B.6SECh. B - Prob. B.8SECh. B - Prob. B.9SECh. B - Prob. B.10SECh. B - Prob. B.11SECh. B - Prob. B.12SECh. B - Prob. B.13SECh. B - Prob. B.14ECh. B - Prob. B.15ECh. B - Prob. B.16ECh. B - Prob. B.17ECh. B - Prob. B.18ECh. B - Prob. B.19ECh. B - Prob. B.20ECh. B - Prob. B.21ECh. B - Prob. B.22ECh. B - Prob. B.23ECh. B - Prob. B.24APCh. B - PC-25A Using the purchases, cash payments, and...Ch. B - Prob. B.26APCh. B - Prob. B.27BPCh. B - PB-28B Using the purchases, cash payments, and...Ch. B - Prob. B.29BPCh. B - Prob. B.30PCCh. B - Prob. B.31PSCh. B - Prob. B.1CPCh. B - Prob. B.1TICh. B - Prob. B.1DCCh. B - Didrikson Rubin, the auditor of Red Barn Farm...Ch. B - Communication Activity C-1 In 150 words or fewer,...
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- Use the journals and ledgers that follow. Total the journals. Post the transactions to the subsidiary ledger and (using T-accounts) to the general ledger accounts. Then prepare a schedule of accounts receivable.arrow_forwardThe schedule of accounts payable lists each creditors account balance, and the total equals the _________________. a. Controlling account in the journal b. Accounts Payable account in the general ledger c. Accounts Receivable account in the general ledger d. Purchases account in the general ledger e. Sales account in the general ledgerarrow_forwardWhat is the accounts receivable ledger? a. A record of credit customers and their balances b. A record of vendors and their balances c. Part of the sales journal d. Part of the general journal e. Part of the general ledgerarrow_forward
- Consider the following information items as you respond to the question:i. Customer master fileii. Journal entry to record the receipt of cashiii. Pre-numbered documentsiv. Schedule of accounts receivableAccounting information systems have five generic elements. Which of the following statements is most true? A. "Pre-numbered documents" can be an example of three of the five elements. B. "Schedule of accounts receivable" can be an example of all five elements. C. Both "Pre-numbered documents" can be an example of three of the five elements and "Schedule of accounts receivable" can be an example of all five elements are true. D. Neither "Pre-numbered documents" can be an example of three of the five elements nor "Schedule of accounts receivable" can be an example of all five elements is true.arrow_forwardThe Vendor Ledgers report displays the :Select one A. Accounts receivable control account B. Accounts Payable subsidiary ledger C. Accounts receivable subsidiary ledger D. Accounts Payable control accountarrow_forwardIdentifying transactions in the accounts receivable subsidiary ledger A customer account in the accounts receivable subsidiary ledger of Leger Old Company follows: Describe the three posted transactions.arrow_forward
- steps in posting from asales journal to an accounts receivable ledger?arrow_forwardDebit postings to the individual accounts in an accounts receivable subsidiary ledgergenerally come from the Cash column Other Accounts column Accounts Receivable column Sales Discount columnarrow_forwardUse the journals and ledgers that follows. Total and rule (draw a line under the column of numbers) the journals. Post the transactions to the subsidiary ledger and (using T-accounts) to the general ledger accounts. Then prepare a schedule of Accounts Payable.arrow_forward
- Using the following revenue journal for Zeta Services Inc., identify each of the posting references, indicated by a letter, as representing (1) posting to general ledger accounts or (2) posting to subsidiary ledger accounts:arrow_forwardMaddie Inc. has the following transactions for its first month of business. A. What are the individual account balances, and the total balance, in the accounts receivable subsidiary ledger? B. What is the balance in the accounts receivable general ledger (control) account?arrow_forwardEntries for notes receivable The series of five transactions, (a) through (e), recorded in the following T accounts were related to a sale to a customer on account and the receipt of the amount owed. Briefly describe each transaction.arrow_forward
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